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Lake County/Willoughby/44096

44096

ZIPSAFMR
Lake County, OH
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$960$960
1 BR$1,090$1,090
2 BR$1,320$1,320
3 BR$1,690$1,690
4 BR$1,820$1,820
5 BR$2,093Not available
6 BR$2,407Not available
7 BR$2,768Not available
8 BR$3,183Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMRUsed$1,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 44096 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44096 (Willoughby, OH) is $1,320 a month. That is down 1.5% from $1,340 in FY 2026. Willoughby is in the Cleveland, OH HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 14 ZIP codes in Lake County, 44096 is tied for the 4th-highest two-bedroom rent (county range $1,000–$1,440). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44096 is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44096
BedroomsFY 2027Change90–110% range
Studio$960−2.0%$864–$1,056
1BR$1,090−1.8%$981–$1,199
2BR$1,320−1.5%$1,188–$1,452
3BR$1,690−1.7%$1,521–$1,859
4BR$1,820−1.1%$1,638–$2,002

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44096
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$1,090$1,320$1,690$1,820
FY 2026$980$1,110$1,340$1,720$1,840
FY 2025$930$1,050$1,280$1,650$1,770
FY 2024$860$970$1,180$1,530$1,630
FY 2023$770$880$1,070$1,390$1,470

Two-bedroom rent in nearby Lake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44096
44045$1,190−9.8%
44057$1,310−0.8%
44060$1,430+8.3%
44061$1,3200.0%
44077$1,230−6.8%
44081$1,050−20.5%
44086$1,260−4.5%
44092$1,290−2.3%
44094$1,440+9.1%
44095$1,200−9.1%
44096Current$1,320—
44143$1,170−11.4%

Questions about ZIP 44096 rents

How much will Section 8 pay for a two-bedroom in ZIP 44096?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,320, that basic range is $1,188 to $1,452 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 44096 in?

ZIP 44096 is in the Cleveland, OH HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 44096 for FY 2027?

The two-bedroom FMR fell 1.5%, from $1,340 in FY 2026 to $1,320 in FY 2027. Since FY 2023 it has risen 23.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentWilloughby, OH fair market rentOH statewide rentsWhat is SAFMR?Data sources